Mubadala Investment Company («Mubadala») has announced the signing of a definitive agreement to sell its minority stake in Cool IT Systems, a global leader in liquid cooling solutions for data centers, to Ecolab. The deal, valued at $4.75 billion, was led by KKR. Mubadala had invested in Cool IT Systems in 2023 alongside KKR through its Global Impact Fund II. Cool IT Systems is one of the world's leading companies in advanced liquid cooling technologies, with 25 years of accumulated expertise. The company focuses on designing and manufacturing advanced systems that enable and enhance the sustainable expansion of data centers, supporting the growing demand for computing power driven by artificial intelligence. In contrast, traditional air-cooled data centers can consume up to 50% of a facility's total energy, while liquid-cooled data centers use 30-40% less energy and reduce water consumption through closed-loop systems that minimize waste and evaporation. Today, major global cloud computing companies and data center operators rely on Cool IT Systems' innovative solutions to boost energy efficiency and support high-density AI infrastructure in over 300 data centers worldwide. Abdullah Mohammed Shadid, Head of Energy and Sustainability in Mubadala's Private Investments sector, stated that Mubadala invested in Cool IT Systems three years ago, driven by a firm belief that liquid cooling technologies would become a cornerstone for a more efficient and sustainable digital infrastructure. He noted that Cool IT Systems has solidified its position as a global leader in this technology, which supports the increasing demand for energy-efficient data center solutions amid the AI boom. Shadid added that the successful partnership with KKR, combined with collaboration with Cool IT Systems' excellent management team, exemplifies the exceptional value achievable through effective management and aligned visions. He expressed pride in their joint accomplishments and affirmed his confidence that the company will continue to build on these achievements as it enters a new phase of growth and expansion. Since 2023, Cool IT Systems has significantly expanded its manufacturing footprint to over 300,000 square feet and increased its production capacity for liquid cooling distribution units by 25 times. The company's workforce has grown by over 300 employees. Cool IT Systems now holds a strong market position, with projected revenue growth of nearly four times and an expected increase in EBITDA of nearly ten times by 2026. Jason Waxman, CEO of IT Systems, stated that Ecolab's acquisition, a global leader in water management, is a strategic step that creates value for all stakeholders, including customers, employees, and shareholders. He praised the strategic collaboration with Mubadala, which played a pivotal role in transforming Cool IT Systems into a global leader. Waxman confirmed the company's commitment to continuing its business development and expansion in the UAE. Globally, data center energy consumption is projected to reach 945 terawatt-hours by 2030, exceeding the total current consumption of countries like Germany and France combined and more than double the 2024 level of 415 terawatt-hours. Water consumption by data centers is expected to reach 450 million gallons per day, equivalent to the daily needs of 5 million people, compared to 292 million gallons in 2022. In this context, Cool IT Systems' solutions have proven highly effective, saving approximately 2.18 billion kilowatt-hours of energy in 2025 alone—enough to power about 200,000 homes for a full year. The transaction is subject to customary regulatory approvals and is expected to close in the third quarter of 2026.
